Reply from Congressman Emanuel Cleaver concerning OrphanWorksActof 2008

[Jim Herrmann]

Not toget to far into it, but moving from the 10% braket to a 15% braket is
not a 50% increase.  It's an increase on the last dollars you make, not on
the entire sum.  You sir, are twisting the math to fit your meme.

On Tue, Aug 12, 2008 at 11:32 PM, Hal Duston <hald at kc.rr.com> wrote:

> On Tue, Aug 12, 2008 at 06:29:10PM -0500, Geoffrion, Ron P [IT] wrote:
> > > Of course if my net income drops by over $500/month due to the tax
> > > increased caused by the expiration of the tax cuts in 2010, I could
> > > be forced to move into something cheaper.
> >
> > LOL - you need to earn $200,000 minumum to have that much impact
> > on the expiration of income tax cuts passed by Bush.  So unless
> > you spend a lot of money on software, you'll do fine.
> >
> > http://www.taxfoundation.org/research/show/22424.html
> >
> > Thanks,
> >
> > Ron Geoffrion
> > 913.488.7664
>
> After the tax cuts expire, the child tax credit will be reduced
> from $1000 to $500 per child.  That increases my tax liabilty by
> $2500.  I will also move from the 10 percent tax bracket into the
> 15 percent tax bracket which is in itself a 50% tax increase.  My
> standard deduction will also return to the previous
> pre-marriage-penalty amount.  It is a significant tax increase for me.
>
> http://www.taxfoundation.org/research/show/134.html
>
> Note that I am the head of a family of seven, not a family of four.
>
> Thanks,
> --
> Hal
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>
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